Latest Car News in India

Friday, December 11, 2015

MSIL and Toyota Motors also hike prices of their portfolio

Following the paths of German car maker Mercedes Benz and Korean car maker Hyundai Motors, country’s leading car manufacturer Maruti Suzuki India Limited has also announced to hike the prices of its entire range up-to Rs. 20,000. This price hike will be effective from January 2016 and will be applicable differently on different models manufactured by Indo-Japanese car maker. Commenting on the decision of hiking prices, company sources said that in current scenario when there is increase in cost of production due to decline in value of rupee as compared to dollar it became necessary for company to hike the prices to meet its administrative costs.

It is reported that one more Indo-Japanese car maker Toyota Kirloskar Motors has declared to hike the price of its all products up-to 3% from next year. Prior to these car makers, like Hyundai Motors, Mercedes Benz and BMW also announced to hike the prices of their products with effect from January 1, 2016. According to reports where Korean car maker Hyundai Motors has hiked the prices of its portfolio up-to Rs. 30,000, both German car makers have announced to hike prices up-to 2% and 3% respectively from the beginning of next year.

Going through the trend of hiking prices by car manufacturers it is speculated that in coming days we might also receive same news from other car makers also.